Lookout Mobile, a provider of smartphone security solutions has raised $19.5 million in a Series C round of funding. The round was led by new investor, Index Ventures, and also includes Accel Partners and Khosla Ventures.
The company was founded by John Hering, James Burgess and Kevin Mahaffey, three mobile security researchers who met at the University of Southern California. Lookout offers a Free version of its “essential” mobile security product, and in November announced “Lookout Premium,” a solution designed to help protect against malware & spyware, data loss and device loss. Lookout Premium provides added security and privacy capabilities. Priced at $2.99 per month or $29.99 per year, Lookout Premium includes a Privacy Advisor, Remote Wipe and Remote Lock features, Enhanced Backup & Restore features as well as tools to help transfer data to a new device.
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“Smartphones are the next computer for billions of consumers and it’s clear that, just as in the PC world, consumers and their phones need protection,” said Mike Volpi, Partner, Index Ventures. “Lookout’s unique blend of a qualified executive team, demonstrated success with consumer adoption, and careful balance of ease-of-use and sophisticated security technology, positions the company for success and rapid growth in 2011.”
As phones become more powerful and consumers do more with them, they become more attractive to malicious attacks. Consumers need protection from threats such as mobile viruses and malware, data loss and theft of the phone itself. Available now on more than 400 mobile networks in 170 countries, Lookout protects millions of phones everyday.
In July, Lookout announced announced “The App Genome Project,” an ongoing effort to map and study mobile applications, created to identify security threats in the wild and provide insight into how applications are accessing personal data, as well as other phone resources.
“2010 was a year of tremendous growth for Lookout. We skyrocketed to four million users, launched a successful premium service and gained industry and consumer accolades,” said John Hering, CEO and founder, Lookout Mobile Security. “Moving into 2011 mobile security will be critical. The solution needs to be complete and address the growing needs of smartphone users for protection. This investment will help Lookout expand to other platforms and develop additional security services to protect consumers.”
Along with the funding, Mike Volpi, Index partner and former Cisco executive, joins the Lookout board of directors.
